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Collaborative Post¦ Around half of small businesses are home-based. And of the ones owned by women, a third is owned by mums. But the time might come when your small or home-based business needs to expand. So investing in business enhancement becomes a necessity rather than an option.
Work with Industry Professionals
As a mother and a businesswoman, you should be proud. But you also need to realise that no one makes it on their own in business, and everyone has help. Fortunately, there are talented industry professionals that can assist you with scaling and making your business more efficient, no matter your sector or niche. For example, if you offer remote bookkeeping services and need to keep up with demand, you can use IT support for accounting firms to meet with compliance.
Scale Up Accordingly
The time might come when you need to literally expand the business. And this means more of everything as you scale up to meet growing demands. You will need more equipment, more space to manage administration and more employees. You can outsource services such as call handling, cleaning and secretarial jobs. But also any required IT services. Further, you need to carefully consider the space you move into and if you need a combined office and shop floor.
Invest in Business Enhancement Tech
Every sector changes and new technologies are being released all the time. Technology such as computerised systems, automation and even artificial intelligence (AI) are great for future proofing. But the most useful are not free, and you must include these costs in any plans for expansion. For instance, Windows operating software licences and new desktop PCs alone will run into the thousands. And then there are the added energy expenses to keep them going.
Take Your Time with Recruitment
When you expand your business from home-based to small or small to medium, you inevitably need more employees. And this means taking the time and money to recruit who you need. And this is one part you shouldn’t rush. If you hire the wrong person, you lose a lot of time. And if someone leaves, it can cost around a year’s salary to replace a skilled worker when you factor in recruitment costs. Recruitment agencies are excellent for this. But ensure you have the funds.
Always Stay Hands-On
You can’t make your business bigger and better if you take a backseat or refer most of the work to someone else. Delegation is a great tool and something you should use. But the buck stops with you. And your vision cannot be carried out if you aren’t there to oversee it. So you must stay hands-on to ensure everything goes smoothly and your expansion moves in the direction you both want and need. But of course, don’t try to do everything, and get the rest you need.
Summary
Business enhancement becomes necessary when you want to go bigger. You can hire industry experts to help you, enlist the latest tech in your field, and stay hands-on to carry out the plan.
Disclosure: This is a collaborative post.